check this picture:
http://digitalpain.org/pictures/use/oz_audio_qmx_hm6.jpg
here u see how i started connecting 'everything' to my patchbay.
on the back (the part thats the closest to you) you see :
the 8 first connections are Inserts of my mixing desc,
the 4 last conecctions are a few compressors
in practice:
i'm recording vocals on channel 1 of my mixer,
and i want to use a compressor on that,
then i just take two patchkabels and connect them to the Front of the patchbay, connection between Insert 1 and compressor 1
and lets say i'm not satisfied with the sound, i want to put a different compressor on my vocals, then i just change the connection in the Front of the patch....
this means u don't have to search a flashlight or a lighter to see how everything is connected in the back of your rack...
(i got the patch IN my rack right now, which looks better and cleaner)
but i warn u, patchbays are a bit tricky to work with in the beginning, thats what i think... so maybe u don't have to get u'rself one...
cheers,
earworm